Denied Navy CLI

[Anonymous]

I have 2 NFCU cards with limits of $15,500 and $10,500 both opened since 2019. Denied for CLI due to

"You've reached NFCU's maximum unsecured credit limit"

I m a homeowner with good credit and several outstanding trade lines - but not sure how to get around this denial. Does that mean I won't qualify for card #3 with Navy? Any advice is greatly appreciated. 

UPDATE: I found out why the Navy denial. My student loans were reporting a large monthly payment of $1,850.00 instead of my IDR payment of $30.00 a month. This totally put my DTI out of whack. The federal government has placed forbearance on these loans even if it was NOT requested. When I make large monthly payments on my student loans they push my due dates out instead of applying the large payment to my principal loan balance. I had to write all credit bureaus plus my lender to get this fixed. Will take 30-45 days. I'm not happy because I'm being denied credit due to my student lender's error.

[Anonymous]

Yes most likely - it means that as of now, Navy has extended the credit they're comfortable extending. Just give it time and try again. 

[Anonymous]

Why not go to another bank like Pen Fed? to try again with another HP it wouild be better to just go to another bank. It is also not good to have all of your eggs in one basket. I have many cards but no more then two credit cards with any one bank.

Thanks

Mark

[Anonymous]

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@Anonymous wrote:

I have 2 NFCU cards with limits of $15,500 and $10,500 both opened since 2019. Denied for CLI due to

"You've reached NFCU's maximum unsecured credit limit"

I m a homeowner with good credit and several outstanding trade lines - but not sure how to get around this denial. Does that mean I won't qualify for card #3 with Navy? Any advice is greatly appreciated. 

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Navy might be cutting back on how much they are giving out to folks these days.  Wasn't like that when I joined in 2017 my first card they gave me 24K.   One year later I got my second card they gave me 25K.  My scores were in the high 600s.   I did have a car loan with them when I applied for the 2nd card.   Then in 2020 spring I applied for my 3rd card the Flagship and they gave me 18K.  So as for you either they are just cutting back these days or for whatever reason your credit profile, relationship with them or a combination of both they don't feel comfortable giving you anymore as of today.  Doesn't mean it will always be like that but as for today it is.  Also your income plays a HUGE role into how much they will feel comfortable giving you.  I know this for a fact because I had my mother apply for a card in 2019, she has much better credit than me, more established credit, but she's on retirement bringing home about 35K per year.  They only gave her about 12K on her first card.      If you don't mind how much is your income?

[WavysMommy]

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@Anonymous wrote:

I have 2 NFCU cards with limits of $15,500 and $10,500 both opened since 2019. Denied for CLI due to

"You've reached NFCU's maximum unsecured credit limit"

I m a homeowner with good credit and several outstanding trade lines - but not sure how to get around this denial. Does that mean I won't qualify for card #3 with Navy? Any advice is greatly appreciated. 

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Apply for a 3rd Navy card. Not sure how long you've had the more recent of the two, but I got that same message after hitting 6 months with my More Rewards. I applied for my third card and was approved for 12.5k a month after requesting a CLI.

[3004life]

No worries, denied just means not now! I came out of the gate with Flagship in Nov 2019 with 15k SL TU 8 was at 694. Applied for CLI 6 months later, got you reached your maximum limit  message ....I knew better but didn't sweat it. Few weeks later they gave me whopping 500 CLI . Applied for 2nd card reward card...Denied..no sweat kept the Direct deposits going, paid down other balances got UTI around 8% didn't ask for CLI on Flagship automatic increase to 18k. Few month's later pulled the trigger for 2nd card, figured I would try for the PLATINUM cause I like the color...😆 🤣  N-E ways got a message saying under review 24-48 hours , well I'm religiously checking my email and App every 10 minutes for the next 40 hours!! After I gave up hope and finally set the phone down I got an email alert saying CONGRATULATIONS you have been APPROVED for 25K!! This was just a few months ago May/21 So stay in the hunt, denied means not now with them. IMO best banking institution on the planet. Hope this helps. 

[Anonymous]

@Anonymous 

Income is $120k but I have over $500k in mortgage and other debt

[Anonymous]

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@Anonymous wrote:

@Anonymous 

Income is $120k but I have over $500k in mortgage and other debt

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Oh ok.  So when they look at lending you more money they do look at your DTI and based on that, that is the reason why they came with that conclusion.   If you made more money that would help you get approved.  Or if your debt lowered that would help as well.  Again I have more income than my mother yet my mother has better credit.  They gave me more money vs. my mom they gave her less money.    Thanks for the reply

[Trooper2003]

Sorry you can ask them to reconsider, sometimes it works.

[MeN5]

No it doesn't many including myself get denied increases but approved for new card last month I was denied increase and approved for 24.9k flagship lowest apr